HAMBURG, April 3 German precious metals group
Heraeus said on Monday it had taken full control of
Swiss gold and silver processor Argor-Heraeus.
The German group has raised its shareholding in
Argor-Heraeus to 100 percent from about 33 percent previously.
No financial details are being released about the deal,
which still requires approval from relevant authorities.
The sellers were Germany's Commerzbank, Austrian
state mint Muenze Oesterreich and Argor-Heraeus management,
Argor-Heraeus has around 300 employees with operations in
Switzerland, Germany, Italy and South America.
It is involved in refining gold ore, recycling of precious
metals and industrial processing of bars, coins, alloys and
"With the full takeover of the shareholdings, Heraeus is now
in the position to fully profit from Argors competence and
capacity for gold and silver," Heraeus CEO Jan Rinnert said in a
(Reporting by Michael Hogan; editing by Jason Neely)